KLCI closes higher in late push, buoyed by CIMB

KUALA LUMPUR (March 15): The FBM KLCI closed higher in late buying on Thursday, underpinned by gains in CIMB and Maybank amid volatile trading.

The KLCI rose 3.67 points or 0.2% to finish at 1,579.38. Turnover was 1.36 billion shares worth RM1.73 billion while the broader market was cautious, with 296 gainers versus 443 decliners while 367 stocks were unchanged.

Worries about the Chinese growth outlook limited gains in Asian markets. This saw the local equities paring gains during the day before recouping losses to finish higher. The KLCI reached an intraday high of 1,579.45at 9.26am before retreating to the day’s low of 1,574.59 at noon.

Among the key regional markets, Japan’s Nikkei 225 rose 0.72% to 10,123.28 and Hong Kong’s Hang Seng Index added 0.21% to 21,353.53.

South Korea’s Kospi slipped 0.06% to 2,043.76, Singapore’s Straits Times Index0.02% lower at 3,025.84 and Shanghai’s Composite Index 0.73% lower at 2,373.77.

Crude palm oil third-month futures rose RM24 to RM3.402, the highest since June 2011. US light crude oil added 32 cents to US$105.75 while Brent crude rose above US$125.

At Bursa Malaysia, CIMB rose 17 sen to RM7.57, pushing up the KLCI by 2.99 points while Maybank added six sen to RM8.67, nudging the index up by 1.06 points. RHB Capital rose eight sen to RM7.90.

YTL added seven sen to RM1.80, YTL Power four sen to RM1.81, Axiata three sen to RM5.15, Telekom two sen to RM5.15 and Maxis two sen also to RM5.96.

Aeon Credit added 38 sen to close at RM8.73, YHS 14 sen to RM2.60 while Top Glove’s strong earnings saw its share price climb 12 sen to RM4.92.

Among decliners, PETRONAS GAS BHD [] lost 38 sen to RM16.60 while NESTLE (M) BHD [] fell 30 sen to RM56.

Most active was Tiger Synergy Bhd which closed flat at 15 sen with some 104 million shares done.



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

EPF sells 5m YTL Corp shares

KUALA LUMPUR (March 15): The Employees Provident Fund Board disposed on five million YTL CORPORATION BHD [] shares on March 12.

A filing with Bursa Malaysia showed the board’s shareholding was reduced to 750.12 million shares or 7.74% after the latest disposal.

Its share price closed at RM1.66 on that day.

Another filing showed the EPF disposed of 207,600 shares of YTL POWER INTERNATIONAL BHD [] on March 12.

The disposal reduced its shareholding to 675.54 million shares or 9.3%.



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

Stocks to watch: Sin Heng Chan, Ramunia, MMC, asiaEP

KUALA LUMPUR (March 13) : Malaysian stocks could encounter downward pressure on Wednesday as investors turned cautious on the technical dynamics of the local market. Analysts believe any gains on the FBM KLCI could be stifled by profit taking amid a downside bias perception on the local benchmark.

In a note on Tuesday, Hong Leong Investment Bank Bhd research head Low Yee Huap said the research firm had changed its stance from positive to cautious as it foresees more profit taking consolidation in the local stock market.

Low said “the bears look stronger now” against a backdrop of weaker technical readings in the FBM KLCI.

On Tuesday, anticipation of better US retail sales numbers had spurred Asian stock markets and crude oil prices. Notable gainers include Hong Kong’s Hang Seng which rose 0.97% to close at 21,339.7 points and Australia’s S&P / ASX 200 which climbed 1.21% to 4247.62 while Taiwan’s Taiex was up 1.31% to 8031.51.

Malaysia’s FBM KLCI of 30 blue chip stocks which rose as much as 0.3% to an intraday high of 1569.15 points, however pared earlier gains to settle with a 0.73 point loss to 1564.02 points.

Stocks to watch on Wednesday include Sin Heng Chan (M) Bhd, RAMUNIA HOLDINGS BHD [], MMC CORPORATION BHD [],asiaEP Resources Bhd, Lafarge Malayan Cement Bhd , GEFUNG HOLDINGS BHD [] and YTL Corp Bhd.

Shares of Sin Heng Chan surged on Tuesday, prompting a query from Bursa Malaysia securities over the unusual market activity.

Its share price closed up 29.5 sen to RM1.10 with 8.48 million units done. However, the company said it was unaware of any reason for the unusual market activity.

Ramunia’s unit has secured a RM23.62 million contract from Aquaterra Energy Ltd to fabricate two wellhead support structures.

Gas Malaysia Bhd is seeking a further extension of six months until Oct 6 from the Securities Commission to complete the proposed listing exercise. MMC Corporation said Gas Malaysia had applied to the SC for its approval for the six-month extension.

West River Capital Sdn Bhd (WRC) has rejected TSM GLOBAL BHD []’s request for better offer terms including the price and this has seen the latter resolving to consider other offers.

TSM said WRC’s offer price would remain at RM1.25 per share.

asiaEP’s major shareholder Tian Ee Intertrade Sdn Bhd has made a requisition for an EGM following the company’s decision to terminate its planned private placement, the firm said in statement to Bursa Malaysia on Tuesday. asiaEP shares rose 0.5 sen to close at nine sen.

RHB Research Institute has upgraded LAFARGE MALAYAN CEMENT BHD [] from an underperform to market perform and revised upwards its fair value by 25% from RM5.94 to RM7.43. The research house has also raised its earnings forecast for the cement producer by between 3% and 21% for FY12 to FY14 period. Lafarge shares rose five sen to RM7.26.

Bahamas-based Golden Knights International Ltd emerged a a major shareholder in marble products manufacturer Gefung Holdings Bhd with a 5.11% stake. This follows Golden Knights’ acceptance of its entitlement from Gefung’s rights issue. Gefung shares added one sen to 17.5 sen

YTL Corp Bhd saw heavy trading after its unit YTL Communications Sdn Bhd was reported to be in the midst of implementing the 1Bestarinet project in government schools. The initiative involves the setting up of Internet access to enable virtual learning environment in public schools. Shares of YTL Corp were up two sen to RM1.68 with some 21 million shares done.



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

EPF sells 10.23m YTL Corp shares

KUALA LUMPUR (March 12): The Employees Provident Fund Board disposed of 10.23 million shares of YTL CORPORATION BHD [] on March 7.

A filing with Bursa Malaysia on Monday showed that after the disposal, its shareholding in YTL Corp was reduced to 769.29 million shares or 7.93%.

The share price closed at RM1.69 on that day.



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

Market Commentary

The FBM KLCI index lost 15.08 points or 0.95% on Wednesday. The Finance Index fell 0.82% to 14089.39 points, the Properties Index dropped 0.69% to 1050.54 points and the Plantation Index down 0.52% to 8600.14 points. The market traded within a range of 12.87 points between an intra-day high of 1585.30 and a low of 1572.43 during the session.

Actively traded stocks include NICORP, HWGB, SILVER, HWGB-WB, CSL, AMEDIA, ENVAIR, KEYWEST, GOCEAN and TECFAST. Trading volume increased to 1742.64 mil shares worth RM2030.26 mil as compared to Tuesday’s 1288.12 mil shares worth RM1792.17 mil.

Leading Movers were ARMADA (+3 sen to RM4.23), UMW (+3 sen to RM7.19), RHBCAP (+4 sen to RM7.76), PETDAG (+4 sen to RM18.50) and MMHE (+2 sen to RM5.32). Lagging Movers were SIME (-19 sen to RM9.80), CIMB (-11 sen to RM7.31), GENTING (-18 sen to RM10.74), MAYBANK (-8 sen to RM8.71) and YTL (-6 sen to RM1.69). Market breadth was negative with 283 gainers as compared to 476 losers. -- JF Apex Securities Bhd



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

Market Commentary

The FBM KLCI index gained 5.44 points or 0.34% on Monday. The Finance Index increased 0.53% to 14204.47 points, the Properties Index dropped 0.05% to 1065.4 points and the Plantation Index down 0.19% to 8661.77 points. The market traded within a range of 8.59 points between an intra-day high of 1594.72 and a low of 1586.13 during the session.

Actively traded stocks include TMS , NICORP, GOCEAN, KHSB, CSL, DRBHCOM-CF, DRBHCOM, COASTAL-CA, DRBHCOM-CG and YTL. Trading volume decreased to 1448.66 mil shares worth RM1760.84 mil as compared to Friday’s 1630.35 mil shares worth RM1934.59 mil.

Leading Movers were CIMB (+15 sen to RM7.48), GENTING (+16 sen to RM10.76), TENAGA (+6 sen to RM6.31), PBBANK (+6 sen to RM13.76) and MMCCORP (+9 sen to RM2.84). Lagging Movers were YTL (-4 sen to RM1.74), KLK (-18 sen to RM23.40), GENM (-3 sen to RM3.87), AXIATA (-1 sen to RM5.16) and PETCHEM (-1 sen to RM6.89). Market breadth was negative with 391 gainers as compared to 414 losers. -- JF Apex Securities Bhd



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

CIMB leads KLCI to higher close, 11 pts away from all-time high

KUALA LUMPUR (March 2): CIMB led the FBM KLCI to a higher close, just 11 points away from the all-time high of 1,594.74 in July 2011, as the firmer blue chips galvanised market sentiment.

At the close, the KLCI was up 10.33 points or 0.66% to 1,583.78. Turnover was 1.63 billion shares valued at RM1.93 billion. Advancing counters beat decliners 540 to 276 while 330 counters were unchanged.

Reuters reported European shares edged up to their highest level in more than a week on Friday, with the European Central Bank's ultra-cheap funding this week helping the euro zone debt market and further reducing risk within the battered banking sector.

Financials were among the top gainers, with the STOXX Europe 600 Banking index rising 0.6 percent and Commerzbank advancing 3%. The index, which was the worst performer in 2011 with a 32% drop, has gained about 19% so far this year.

Among the key regional markets, Japan’s Nikkei 225 rose 0.72% to 9,777.03, Hong Kong’s Hang Seng Index added 0.81% to 21,562.26, Shanghai’s Composite Index added 1.43% to 2,460.69 and Singapore’s Straits Times Index 0.49% higher at 2,993.49.

BAT was the top gainer, adding 40 sen to RM53.50. Its fourth interim dividend of 66 sen per share tax exempt will go ex on Tuesday.

CIMB rose 16 sen to RM7.33, pushing the index up 2.82 points after the banking group moved closer to expand its regional reach by acquiring certain assets of The Royal Bank of Scotland in Asia Pacific.

AMMB added nine sen to RM6.26 while Maybank and Public Bank rose two sen each to RM8.77 and RM13.70.

Petronas Chemical added 15 sen to RM6.90, Genting 14 sen to RM10.60 while DiGi and YTL advanced eight sen each to RM4.12 and RM1.78.

KHSB was the most active counter with 76 million shares done, adding 6.5 sen to 62.5 sen.

Silver Bird was unchanged at 20.5 sen as the price could have bottomed out after being sold down on Thursday where it lost nearly half its value.

China Stationery Ltd saw its share price slipping three sen to RM1.8 as investors took profit following its listing on Feb 24 at the offer price of 95 sen.

Among the decliners, PPB fell 34 sen to RM16.94, Dutch Lady 22 sen to RM29.50, Ta Ann 20 sen to RM5.71 and Hartalega 19 sen to RM8.13.



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

Market Commentary

The FBM KLCI index gained 3.80 points or 0.24% on Thursday. The Finance Index increased 0.07% to 14026.81 points, the Properties Index up 0.36% to 1056.46 points and the Plantation Index rose 0.00% to 8652.12 points. The market traded within a range of 7.40 points between an intra-day high of 1576.23 and a low of 1568.83 during the session.

Actively traded stocks include NICORP, CSL, IFCAMSC, YTL, SIME, TIMECOM, SILVER, RA, DRBHCOM and WINSUN. Trading volume decreased to 1617.80 mil shares worth RM2024.63 mil as compared to Wednesday’s 1942.34 mil shares worth RM2693.55 mil.

Leading Movers were SIME (+24 sen to RM9.93), PETCHEM (+5 sen to RM6.75), BAT (+90 sen to RM53.10), DIGI (+2 sen to RM4.04) and AMMB (+4 sen to RM6.17). Lagging Movers were GENTING (-14 sen to RM10.46), YTL (-5 sen to RM1.70), TENAGA (-3 sen to RM6.25), YTLPOWR (-3 sen to RM1.83) and RHBCAP (-15 sen to RM7.80). Market breadth was negative with 309 gainers as compared to 506 losers. -- JF Apex Securities Bhd



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

KLCI closes at highest since July 2011

KUALA LUMPUR: Fund buying of GENTING BHD [] and Sime Darby following their strong earnings and positive developments in the Eurozone pushed the FBM KLCI to its highest level in six months.

At the close, the FBM KLCI was up 12.92 points or 0.83% to close at 1,569.65, its highest since July 2011. Turnover was 1.94 billion shares valued at RM2.694 billion. Gainers beat losers 535 to 297, while 300 counters traded unchanged.

Regionally, markets closed on a positive note except for Shanghai's Composite Index which fell 0.95% to 2,428.49. Japan's Nikkei 225 closed up 0.01% to 9,723.24, South Korea's Kospi 1.33% to 2,030.25, Taiwan's Taiex 2.04% to 8,121.44, Hong Kong's Hang Seng Index 0.52% to 21,680.08 and Singapore's Straits Index 0.57% to 2,986.65.

Genting rose 22 sen to RM10.76, Sime Darby 12 sen to RM9.69 and Tenaga Nasional 13 sen to RM6.33 which helped push the KLCI by 5.28 points.

Sime Darby announced a 42% increase in net profit of RM2.2 billion for the six months ended Dec 31, 2011, on the back of higher crude palm oil (CPO) prices which boosted its PLANTATION [] division's profit. Genting reported its earnings jumped 66% to RM772.9 million in its fourth quarter compared to RM465.4 million a year ago.

While TNB said its second quarter would perform better after it received the RM2 billion compensation from Petroliam Nasional Bhd and the government as part of the the fuel cost sharing mechanism.

However, gains on the KLCI may be short-lived as Reuters reported that the European markets were supported by news of the European Central Bank's latest cheap loan offer on Wednesday, Feb 29.

It said that the markets are expecting a large number of banks to borrow around 500 billion euros ($671 billion) of the three-year money, and that a lot of this liquidity will find its way into riskier assets as well as easing pressure on bank balance sheets.

On Bursa Malaysia, consumer stocks were among top gainers after stocks such as Dutch Lady Industries Bhd rose RM1.00 to RM29.98, Nestle was up 90 sen to RM55.80 and AEON Credit Services was up 63 sen to RM8.82.

YTL Bhd rose 17 sen to RM1.75, with 109.77 million shares traded in, making it the most active stock on the bourse.

Meanwhile, top losers included Tawin down 25 sen to 30 sen, Tradewinds 21 sen to RM9.89 and Shell down 20 sen to RM9.70.



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

Market Commentary

The FBM KLCI index gained 12.92 points or 0.83% on Wednesday. The Finance Index increased 0.69% to 14017.35 points, the Properties Index up 1.22% to 1052.71 points and the Plantation Index rose 0.34% to 8651.77 points. The market traded within a range of 16.25 points between an intra-day high of 1573.75 and a low of 1557.50 during the session.

Actively traded stocks include YTL, CSL, IFCAMSC, KEYWEST, ECOFIRS, COMPUGT, MUIPROP, NICORP, DBE and TIGER. Trading volume increased to 1942.34 mil shares worth RM2693.55 mil as compared to Tuesday’s 1727.59 mil shares worth RM1588.57 mil.

Leading Movers were YTL (+17 sen to RM1.75), SIME (+12 sen to RM9.69), AXIATA (+7 sen to RM5.17), TENAGA (+8 sen to RM6.28) and GENM (+11 sen to RM3.91). Lagging Movers were PETCHEM (-10 sen to RM6.70) and BAT (-10 sen to RM52.20). Market breadth was positive with 535 gainers as compared to 297 losers. -- JF Apex Securities Bhd



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

KLCI rallies nearly 12pts at midday

KUALA LUMPUR (Feb 29): Share prices on Bursa Malaysia rallied strongly at midday to send the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) surging 11.87 points to 1,568.60, dealers said.

The FBM KLCI's level was also the highest since July 18.

The market was rejuvenated from yesterday's losses as advances in regional bourses and a sharp decline in oil prices bolstered sentiment, the dealers said.

The Finance Index rose 100.36 points to 14,021.33 and the INDUSTRIAL INDEX gained 33.58 points to 2,890.80, while the PLANTATION Index increased 17.061 points to 8,639.66.

The FBM Emas Index gained 70.359 points to 10,852.26 and the FBM 70 Index increased 30.20 points to 12,242.53, with the FBM Ace Index increasing 19.13 points to 4,708.34.

Gainers led losers 432 to 243 while 309 counters were unchanged, 511 untraded and 33 others suspended. Turnover stood at 973.507 million shares worth RM1.012 billion.

For the actives, China Stationery was flat at RM1.39,IFCA MSC decreased half-a-sen to 13 sen, Compugates Holdings rose one sen to 11 sen and YTL Corporation improved five sen to RM1.63.

Among heavyweights, Maybank rose one sen to RM8.75, Sime Darby increased nine sen to RM9.66, and CIMB gained five sen to RM7.18, but Petronas Chemicals slipped 10 sen to RM6.70



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

Market Commentary

The FBM KLCI index lost 2.31 points or 0.15% on Tuesday. The Finance Index increased 0.06% to 13920.97 points, the Properties Index up 0.15% to 1040.06 points and the Plantation Index rose 0.12% to 8622.6 points. The market traded within a range of 9.80 points between an intra-day high of 1562.42 and a low of 1552.62 during the session.

Actively traded stocks include IFCAMSC, CSL, IFCAMSC-WA, NICORP, TMS, SNTORIA, COMPUGT, WINSUN, GOCEAN and ZELAN. Trading volume increased to 1727.59 mil shares worth RM1588.57 mil as compared to Monday’s 1642.24 mil shares worth RM1633.98 mil.

Leading Movers were GENTING (+10 sen to RM10.54), YTL (+4 sen to RM1.58), HLBANK (+20 sen to RM11.90), PETGAS (+4 sen to RM16.56) and HLFG (+6 sen to RM11.82). Lagging Movers were PETCHEM (-10 sen to RM6.80), AXIATA (-5 sen to RM5.10), TENAGA (-5 sen to RM6.20), MAXIS (-9 sen to RM5.89) and YTLPOWR (-3 sen to RM1.85). Market breadth was negative with 309 gainers as compared to 511 losers. -- JF Apex Securities Bhd



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

Market Commentary

The FBM KLCI index gained 0.27 points or 0.02% on Monday. The Finance Index increased 0.37% to 13913.15 points, the Properties Index dropped 0.18% to 1038.48 points and the Plantation Index down 0.22% to 8612.06 points. The market traded within a range of 7.58 points between an intra-day high of 1565.87 and a low of 1558.29 during the session.

Actively traded stocks include NICORP, CSL, FOCUS-WB, HARVEST-WA, ENVAIR, ASIAEP, IFCAMSC, HARVEST, PDZ and GOCEAN. Trading volume decreased to 1642.24 mil shares worth RM1633.98 mil as compared to Friday’s 1695.08 mil shares worth RM1941.07 mil.

Leading Movers were CIMB (+8 sen to RM7.14), YTL (+4 sen to RM1.54), TM (+7 sen to RM5.15), AMMB (+8 sen to RM6.11) and RHBCAP (+20 sen to RM7.86). Lagging Movers were GENM (-6 sen to RM3.81), IOICORP (-3 sen to RM5.40), PBBANK (-4 sen to RM13.62), SIME (-3 sen to RM9.57) and MAYBANK (-2 sen to RM8.75). Market breadth was negative with 327 gainers as compared to 455 losers. -- JF Apex Securities Bhd



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

Sterling second-quarter performance by YTL Corp

PETALING JAYA: YTL Corp Bhd posted a 44.6% year-on-year jump in net profit to RM237.4mil for its second quarter ended Dec 31, 2011 compared with RM164.2mil a year earlier.

For the quarter under review, the well-diversified group's revenue increased 18.4% year-on-year to RM5.3bil.

Group managing director Tan Sri Francis Yeoh said the group continued to perform well due mainly to the “ongoing resilience of our multi-utility businesses in Malaysia, Britain and Singapore”.

“Our cement and multi-utility operations, which are the group's major contributors, continue to register sound performance,” he said in a statement.

For the six months ended Dec 31, 2011, YTL Corp recorded a 10.4% year-on-year jump in net profit to RM489.2mil while revenue increased 10.8% to RM9.87bil.

YTL Corp and its listed arms' financial year ends on June 30, 2012 (FY12).

Meanwhile, for the first half of FY12, YTL Power International Bhd's net profit grew 5.2% year-on-year to RM560mil while revenue rose 9.4% to RM7.7bil, due mainly to better performance of its merchant multi-utility businesses.

However, the division's YES mobile broadband operations registered a loss due mainly to the upfront implementation costs to build the 4G network for scale in order to cover the peninsula.

YTL Cement Bhd saw its net profit for the first half of FY12 grow by 8.8% year-on-year to RM167.9mil while revenue increased 12.2% to RM1.15bil due mainly to higher demand for cement in the construction industry and contributions from offshore subsidiaries.

YTL Cement is undergoing a de-listing process; as at Feb 21, the acceptances of the voluntary share exchange offer into YTL Corp's shares had resulted in YTL Corp, YTL Industries Bhd and persons acting in concert holding more than 90% of YTL Cement's shares.

The trading of YTL Cement's shares and irredeemable convertible unsecured loan stocks will be suspended from 9am on Feb 29.

On YTL Power, analysts said the company's results for the first half of FY12 were within expectations.

CIMB Research noted that YTL Power was keeping cash for mergers and acquisitions, for which it has a good track record.

“We believe YTL Power would eventually win the national 1Bestarinet smart school project. The project is worth RM300mil per annum over 10 years,” said CIMB Research.

Meanwhile, HwangDBS Vickers Research pointed out that YTL Power's dividend per share was lower quarter-on-quarter.

The research house said this was possibly because the company wanted to retain cash to fund increasing capital expenditure for YES, and potential investments in new power plants in Malaysia and overseas regulated assets.

YTL Power had declared a 1.875% or 0.9375 sen per share second interim dividend for FY12.



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

China Stationery in focus, KLCI closes higher

KUALA LUMPUR (Feb 24): China Stationery Ltd (CSL) was in focus on Friday when it made its debut on Bursa Malaysia on Friday, closing 15.8% higher amid some profit-taking activities in the broader market.

CSL closed up 15 sen to RM1.10 and it was the most active stock with 154 million shares traded.

The stationery manufacturer's initial public offering, priced at 95 sen per share, raised RM85.50 million from its public issue of 90 million new shares.

As for the FBM KLCI, it closed up 2.11 points or 0.14% at 1,558.77, led Axiata (up 6.0 sen to RM5.15), YTL Corp (up 7.0 sen to RM1.49) and IOI Corp (up 6.0 sen to RM5.39). Their gains pushed the index up 3.16 points.

Turnover was 1.70 billion shares valued at RM1.94 billion. Gainers led losers 425 to 373 while 343 counters traded unchanged.

Regional markets closed higher, with the Shanghai Composite Index up 1.25% to 2,439.63, Hong Kong's Hang Seng Index up 0.12% to 21,406.86, Japan's Nikkei 225 0.54% to 9,647.38, South Korea's Kospi rose 0.60% to 2,019.89, Singapore's Straits Index up 0.33% to 2,978.08 and Taiwan's Taiex, up 0.28% to 7,959.34.

Commenting on the performance of Bursa Malaysia, Dr Nazri Khan, vice president of retail research at Affin Investment Bank Research said:

"We see the last three profit taking days (Wednesday to Friday) as a healthy correction to neutralise its overbought momentum.

"We also note that the strong ringgit performance (1.1% weekly gain and 4.5% year to date gain) as positive signs of more inflow for the local equities.”

At Bursa Malaysia, top gainers included British American Tobacco up 44 sen to RM52.56, Panasonic Malaysia up 42 sen to RM21.00 and Dutch Lady up 28 sen to RM25.80.

Losers were led by PLANTATION [] stocks such as BLD Plantation down 39 sen to RM9.51 and United Plantation down 34 sen to RM23.84. Oriental Holdings fell 27 sen to RM6.07, MBM Resources also 27 sen lower at RM4.62 and Genting 26 sen to RM10.46.



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

Market Commentary

The FBM KLCI index gained 2.11 points or 0.14% on Friday. The Finance Index fell 0.04% to 13861.51 points, the Properties Index up 0.30% to 1040.31 points and the Plantation Index rose 0.31% to 8630.99 points. The market traded within a range of 6.02 points between an intra-day high of 1559.64 and a low of 1553.62 during the session.

Actively traded stocks include CSL, NICORP, HIBISCS-WA, IFCAMSC, TMS, AXIATA, HARVEST-WA, TIGER, ENVAIR and YTL. Trading volume decreased to 1695.08 mil shares worth RM1941.07 mil as compared to Thursday’s 1951.41 mil shares worth RM2109.15 mil.

Leading Movers were IOICORP (+10 sen to RM5.43), MAYBANK (+7 sen to RM8.77), AXIATA (+6 sen to RM5.15), YTL (+8 sen to RM1.50) and TENAGA (+6 sen to RM6.25). Lagging Movers were GENTING (-26 sen to RM10.46), CIMB (-10 sen to RM7.06), SIME (-3 sen to RM9.60), AMMB (-4 sen to RM6.03) and PBBANK (-2 sen to RM13.66). Market breadth was positive with 425 gainers as compared to 373 losers. -- JF Apex Securities Bhd



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

YTL Corp rises on 45% Q2 income surge

YTL Corp, a power, property and construction group, rose 2.1 percent to RM1.45 in Kuala Lumpur trading at 9.52am, set for its first gain in four days.

The company’s second-quarter net income expanded 45 percent from a year earlier to RM237.4 million, it said in an exchange filing. -- Bloomberg



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

YTL Corp 2Q net profit up 44.5%, boost from multi-utilities segments

KUALA LUMPUR: YTL Corp Bhd's net profit rose 44.5% to RM237.38 million in the second quarter ended Dec 31, 2011 from RM164.18 million a year ago mainly attributable to better performance in the multi-utilities segments.

It said on Thursday that its revenue rose 18.3% to RM5.325 billion from RM4.499 billion. Earnings per share were 2.63 sen compared with 1.83 sen.

“The group profit before taxation for the current financial quarter was RM610.1 million, an increase of 26.9% as compared to RM480.9 million recorded in the preceding year corresponding quarter,” it said.

For the first half, its net profit rose 10.4% to RM489.21 million from RM44.08 million in the previous corresponding period. Its revenue rose 10.8% to RM9.868 billion from RM8.904 billion. Group profit before taxation was RM1.140 billion, up 3.2% from RM1.104 billion.

YTL Corp group managing director Tan Sri Francis Yeoh said the group continued to perform well.

“Revenue topped RM9.8 billion, due mainly to the ongoing resilience of our multi-utility businesses in Malaysia, the UK and Singapore. Overall, our cement and multi-utility operations, which are the group’s major contributors, continued to register sound performance,” he said.

YTL Corp said its ‘Yes’ mobile broadband operations registered a loss mainly due to the upfront implementations costs to build the 4G infrastructure. Its mobile broadband network segment registered a loss before tax of RM197.04 million on the back of RM30.6 million in revenue.



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

Market Commentary

The FBM KLCI index lost 3.86 points or 0.25% on Thursday. The Finance Index fell 0.59% to 13867.67 points, the Properties Index dropped 0.68% to 1037.17 points and the Plantation Index down 0.72% to 8603.91 points. The market traded within a range of 4.84 points between an intra-day high of 1561.50 and a low of 1556.66 during the session.

Actively traded stocks include NICORP, IFCAMSC, TIGER, SAAG, PDZ, DRBHCOM-CG, DRBHCOM-CF, GOCEAN, SNTORIA and TMS. Trading volume decreased to 1951.41 mil shares worth RM2109.15 mil as compared to Wednesday’s 2230.80 mil shares worth RM1937.12 mil.

Leading Movers were AXIATA (+8 sen to RM5.09), TENAGA (+8 sen to RM6.19), TM (+4 sen to RM5.07) and YTLPOWR (+1 sen to RM1.90). Lagging Movers were CIMB (-8 sen to RM7.16), GENTING (-12 sen to RM10.72), AIRASIA (-7 sen to RM3.58), YTL (-3 sen to RM1.42) and PPB (-20 sen to RM16.94). Market breadth was negative with 217 gainers as compared to 689 losers. -- JF Apex Securities Bhd



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

YTL Cement retreats, trading halt on Feb 29

YTL Cement Bhd retreated 5.4 per cent to RM4.54, on course for its biggest loss since Oct. 29, 2008. Trading of shares in the cement maker will be suspended from Feb 29 before a delisting, as its parent YTL Corp. (YTL MK) held more than 90 per cent of the company following a buyout offer, according to separate exchange filings. -- Bloomberg



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.